Discover and read the best of Twitter Threads about #howitworks

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#Howitworks
Have you ever wondered how @anchor_protocol works? And how it captures value to $ANC?

Thread

1/ Besides a lending & borrowing protocol, Anchor is apparently “traditional bank”, which provides fixed rate of 20% APY in Crypto space.
2/ There are 2 kind of users here:
Lending: Supply UST to Anchor to receive APY.
Borrowing: Supply bLUNA as collateral to get UST. Image
3/ Let’s dig into the Anchor:
(1): LUNA -> mint bLUNA
(2): bLUNA as collateral -> mint UST
(3): LUNA from (1) will be Stake to receive APY
(4): Yield from (3) will be divided into 2 parts:
(4.1): Distribute 20% to people who deposit UST.
(4.2): The rest will go to Anchor Vault. Image
Read 8 tweets
Oh, and Kate Bingham is cousin to Rachel Johnson's husband. #HowItWorks
Bad enough that their cronyism keeps all the plum jobs for their pals. Worse by far that their pals are buggering the country up for the rest of us.
Read 3 tweets

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